Introduction An updated return is a return of income that can be filed by a taxpayer within 24 months from the end of the relevant… Read More »ITR U – What is ITR-U & How to File Updated Return under Section 139(8A)
Introduction Annual Information Statement (AIS) is a crucial component of income tax compliance in India. It is designed to streamline the reporting process for taxpayers… Read More »Annual Information Statement (AIS) under Income Tax Act
Introduction Section 194S provides that any person who is responsible for paying to any resident any sum by way of consideration for the transfer of… Read More »TDS Under Section 194S of Income Tax
Introduction For quick and efficient collection of taxes, the Income-tax Law has incorporated a system of deduction of tax at the point of generation of… Read More »TDS – What Is Tax Deducted at Source – TDS Meaning, Filing, Return & Due Dates
Introduction Section 206AB is the newly inserted provisions in the Income Tax Act, 1961, introduced via the Finance Act, 2021. As per section 206AB, where any person… Read More »Section 206AB : TDS at Higher Rates
Introduction Section 206AA was introduced in the Income Tax Act during the financial year 2010-11. It has significant implications for Tax Deducted at Source (TDS) on payments made… Read More »Section 206AA : Higher Rate of TDS
Introduction TDS on Sale of Property Section 194-IA provides that any person buying an immovable property (other than rural agricultural land) from a resident seller… Read More »TDS on Sale of Property : Section 194-IA
Introduction Section 194N is a provision in the Income Tax Act that deals with the deduction of tax TDS on cash withdrawals. It was introduced to discourage large… Read More »TDS on Cash Withdrawal : Section 194N
Introduction Tax Deduction at Source [TDS] on salary is a crucial aspect of income tax regulations in India. Let’s delve into the details: Employers are required… Read More »TDS on Salary : Section 192
Introduction Section 194J of the Income Tax Act, 1961, governs TDS on professional fees or technical fees. It applies to any person other than an individual… Read More »TDS on Professional fees – Section 194J